PRESCO Grows Profit after Tax by 70.51% in Half Year 2020

Adebayo Obajemu

Presco Plc released its half year 2020 financial report grew its Gross Earnings by 29.35, closing the half year period with 13.5 billion against the previous close of N10.4 billion in Half Year 2019.

Profit before tax closed at 5.77 billion, up by 67.71%, when compared with its previous close of N3.44 billion in half year 2019.

Profit after tax stood at  N4.4 billion from the previous close of N2.6 billion in half year 2019.

Earnings per share for the period under review grew to N4.39 from the previous earnings per share of N2.57 in half year 2019.

With reference to the share price of N47.45, P.E ratio of the company stands at 10.81x with earnings yield of 9.25%.